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Property profile & analytics
OFF-MARKET
Estimated value
$85,645,000
Office buildings
1301 16th St Renton, WA 98057-2640
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-1312915
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1993
Construction
STEEL FRAME
Total area
617,238 SF
Lot
45.16 ac (1,966,992 SF)
Zoning code
CO
APN
242304-9022
UPID
US90-1312915
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$85.65M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$110.37M
Blend (final)
Blend
$85.65M
Owner & transaction history
Alaska Airlines INC · 2 yrs held
Alaska Airlines INC
since 2024
Last sale
$85.6M
7 recorded transactions
Zoning & alternative use
CO · Renton, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Renton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Renton submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$85,645,000
ML approach
$85,645,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$85.65M
Range $77.08M – $94.21M · ±10% · vs last sale $85.65M (May 30 2024)
Last sale anchor
$85.65M
May 30 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$139 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$882,170
Tax year 2024
Assessed value
$92,430,200
Assessed 2023
Previous assessed
$92,430,200
+0.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$22,738,400
Assessed improvement
$69,691,800
Land market value
$22,738,400
Improvement market value
$69,691,800
Total market value
$92,430,200
Applied tax rate
2,100.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1993
Construction
STEEL FRAME
Heating
SPACE
Cooling
REFRIGERATOR
Stories
3
Total area
617,238 SF
Lot
45.16 ac (1,966,992 SF)
Zoning code
CO
APN
242304-9022
UPID
US90-1312915
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
CO · Renton, WA
Zoning CO · permitted uses
CO · Renton, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Renton. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1993
Construction
STEEL FRAME
Heating
SPACE
Cooling
Yes
Stories
3
Lot
45.16 ac
Current owner
From public records · entity-resolved
Alaska Airlines INC
Entity
Mailing address
19300 INTERNATIONAL BLVD, SEATAC, WA 98188-5304
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 30, 2024
$85,646,700
Alaska Airlines INC
Unico Longacres North Building LLC
Bargain And Sale Deed
—
Mar 12, 2024
—
Unico Longacres Residential Nw LLC
—
Deed
related
—
Mar 7, 2024
—
Unico Longacres Commercial East LLC
Unico Longacres Oakesdale Land LLC
Intrafamily Transfer
related
—
Mar 6, 2024
—
Unico Longacres Residential Nw LLC
Unico Longacres North Building LLC
Intrafamily Transfer
related
—
Mar 5, 2024
—
Unico Longacres North Building LLC
Longacres Park INC
Re-recorded Document
related
—
Dec 21, 2021
—
Unico Longacres Central Systems LLC
—
Deed
related
$80,000,000 · Benaroya Holdings LLC
Sep 3, 1999
—
King County Drainage Dist #1
Broadacres INC
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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